Year 2 - 5 Links to the National Consumer and Financial Literacy Framework
National Consumer and Financial Literacy Framework
Year 2
Dimension Knowledge and understanding
Recognise Australian money includes notes and coins
Recognise that money is limited and comes from a variety of sources
Recognise that money can be saved to meet needs and wants
Explain how money is exchanged in return for goods and services
Identify and describe the differences between needs and wants.
Dimension Competence
Use money to buy basic goods and services in ‘real-life’ contexts
Recognise common symbols and terms used on a variety of Australian notes and coins
Identify consumer and financial matters that are part of daily life such as earning money, spending, saving, paying bills, making donations
Compare the cost of similar items
Dimension Responsibility and enterprise
Demonstrate awareness that family, community and socio-cultural values and customs can influence consumer behaviour and financial decision making.
Year 3
Dimension Knowledge and understanding
Explain some different forms that money can take
Identify, explain and prioritise different needs and wants
Identify different forms of income
Recognise that different countries use different currencies
Dimension Competence
Create simple budgets for specific purposes
Classify and compare goods and services
Use money to buy basic goods and services in ‘real-life’ contexts
Dimension Responsibility and enterprise
Exercise a range of enterprising behaviours through participation in relevant class and/or school activities
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Year 2 - 5 Links to the National Consumer and Financial Literacy Framework
Year 4
Dimension Knowledge and understanding
Explain some different forms that money can take
Explain why similar goods and services may vary in price
Identify, explain and prioritise different needs and wants
Identify different forms of income
Recognise that different countries use different currencies
Dimension Competence
Use money to buy basic goods and services in ‘real-life’ contexts
Create simple budgets for specific purposes
Classify and compare goods and services
Order and discuss reasons for spending preferences
Identify key features of a range of advertisements.
Dimension Responsibility and enterprise
Identify and describe the impact that the consumer and financial decisions of individuals may have on themselves and their families, the broader community and/or the environment
Apply consumer and financial knowledge and skills in relevant class and/or school activities such as student investigations, charity fundraising, business ventures and special events
Identify and explain how some influences, such as advertising and peer pressure, can affect what you buy
Exercise a range of enterprising behaviours through participation in relevant class and/or school activities
Describe safe, ethical and responsible behaviour in online and digital consumer and financial contexts
Explain the role played by the voluntary sector in the community to help those in financial need
Year 5
Dimension Knowledge and understanding
Describe how an individual can influence their income
Explore the value of unpaid work to the community
Analyse the value of a range of goods and services in relation to an identified need
Explain how money can be borrowed to meet needs and wants and that there may be a cost involved
Recognise that the currencies of different countries have different values relative to the Australian dollar
Dimension Competence
Create simple budgets for a range of purposes and explain the benefits of saving for future needs and wants
Evaluate the value of a range of goods and services in a variety of ‘real-life’ situations
Identify key features used in advertising, marketing and social media to influence consumer decision-making.
© ASIC 2013 all rights reserved www.teaching.moneysmart.gov.au
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Year 2 - 5 Links to the National Consumer and Financial Literacy Framework
Dimension Responsibility and enterprise
Identify and describe the impact that the consumer decisions of individuals may have on themselves and their families, the broader community and/or the environment
Explain there are ethical considerations to some consumer and financial decisions
Apply consumer and financial knowledge and skills in relevant class and/or school activities such as student investigations, charity fundraising, product design and development, business ventures and special events
Exercise a range of enterprising behaviours through participation in relevant class and/or school activities
Practise safe, ethical and responsible behaviour in online and digital consumer and financial contexts
Explain the role played by the voluntary sector in the community to help those in financial need
© ASIC 2013 all rights reserved www.teaching.moneysmart.gov.au
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